- Bitcoin would need to surge past $150,000 per coin to make an exchange-traded fund for the coin feasible, Fundstrat Global Advisors co-founder Tom Lee said, according to Bloomberg.
- The estimate requires a 1,670% gain for the popular cryptocurrency. It traded at roughly $8,488 as of 3 p.m. ET Friday.
- Large fund launches can bring in $13 billion in first-year interest, and the buzz around cryptocurrencies remains healthy, Lee said.
- Lee praised the Securities and Exchange Commission for the crypto-related regulation it’s done so far, saying “institutions aren’t going to touch crypto” until the SEC endorses products like ETFs and other read more >>>